NP Rank:
Weak Economy Hinders Black Friday
by Jordan Yerman | November 29, 2008 at 08:33 am
92 views | 5 Recommendations | 1 comment
Stampedes notwithstanding, this year's Black Friday seems to have been underwhelming in terms of profits for retailers, as some have predicted.
Among shoppers, "there's less of a sense of urgency than we've seen in the last few Black Fridays," said Marshal Cohen, chief retail analyst at The NPD Group. "Last year they were pushing the cart in and coming out with a big-screen TV. This year, they're definitely not running around with their arms full."
U.S. stocks ended higher Friday, leaving the market with monthly losses but with large gains for a holiday-shortened week that saw investors increasingly confident that much of a dire economic outlook already has been priced in.
The market gained on so-called Black Friday, marking its fifth-straight session of gains, with grim prospects for retailers failing to dent optimism at the traditional start of the U.S. holiday-shopping season.
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First Flagged at 9:01 AM, Nov 29, 2008 by Paschen
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Most RecentMost Recommended Comments (1)
at 09:03 on November 29th, 2008
That should not come as a surprise though! Well Wall Street seems to have done well on Friday.